A friend owns and operates a consulting firm that works for a single client under one consulting agreement. The consulting firm bills the client monthly for charges incurred. They ask you whether you would recommend a job costing or process costing system for their business. What would you recommend? And why? discussion post will need to be a minimum of 100 words.

A friend owns and operates a consulting firm that works for a single client under one consulting agreement. The consulting firm bills the client monthly for charges incurred. They ask you whether you would recommend a job costing or process costing system for their business. What would you recommend? And why? discussion post will need to be a minimum of 100 words.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 4PB: Assume you are the manager for the semi-trucks division at the Speedy Delivery Company. The...

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You are a management accountant for Time Treasures Company, whose company has recently signed an outsourcing agreement with Spotless. Inc., a janitorial service company. Spotless will provide all of Time Treasures janitorial services, including sweeping floors, hauling trash, washing windows, stocking restrooms, and performing minor repairs. Time Treasures will be billed at an hourly rate based on the type of service performed. The work of common laborers (sweeping, hauling trash) is to be billed at $8 per hour. More skilled (repairs) and more dangerous work (washing outside windows on the 23rd floor) are to be billed at $18 per hour. Supervisory time is to be billed at $20 per hour. Spotless will submit monthly invoices, which will show the number and types of hours for which Time Treasures is being charged. The outsourcing contract is simple and straightforward. A. What are some of the internal control problems you foresee as a result of our sourcing the janitorial service with this contract? B. Explain recommendations to control risk that would you suggest after reviewing the contract.
Assume you are the manager for the semi-trucks division at the Speedy Delivery Company. The semi-truck division is a cost center and you are reviewing the driver overtime costs for the previous year, shown here: A. Microsoft Excel or another spreadsheet application, create a line chart with markers showing the driver overtime expense. Describe your observations. B. Knowing that safety is important in your industry and weather plays a significant role in the safety of drivers, you decide to talk with the safety manager and obtained the following information: Using Microsoft Excel or another spreadsheet application, create individual line charts with markers showing the average snowfall and non-company highway accidents. Describe your observations and actions you might consider.
Your organization has opened a walk-in clinic. A list of expenses has been given to the new staff accountant, Marvin, from the walk-in clinic manager and Marvin needs your help. Marvin wants you to help him identify whether costs shown in the table below are direct or indirect. Additionally, Marvin would like you to describe: 1. The monetary total of direct and indirect costs. Item Cost Direct Indirect IT Salaries and Benefits $1,500 RN Salaries and Benefits $9,600 Utilities and Telephone $3,000 Carpets $1,000 Magazine Subscriptions $ 50 Vehicle Expense $1,775 Exam Table $5,500 End Tables $ 500 Coffee Tables $1,400 Facility Insurance $ 650 Staff Uniforms $1,200 Cleaning Supplies $ 200 Desk Lamps $ 150 Front Desk Flowers $ 300 Bottled Water $ 250 Facility Maintenance $ 700 Landscaping Expense $1,800 Facility Cleaning $1,500
Pick one answer: Due to increased work volume at McMahon's Robotics Emporium, the owner has decided that she needs to add another payroll clerk. What type of expense is the new payroll clerk's salary? Direct expense Indirect expense Variable expense Overhead expense
eLean is an online fitness community, offering access to workout routines, nutrition advice, and eLean coaches.Customers pay a $50 fee to become registered on the website, and then pay $5 per month for access to all eLeanservices. How many performance obligations exist in the implied contract when a customer registers for theservices?
It is the last day of the month and fiscal year, your manager asks you to create an invoice for $10,000 (debiting Accounts Receivable and Crediting Sales) and send it to a specified customer. Normally invoices are sent to customers when products have been shipped or the service has been finished. You manager tells you that we will be shipping equipment and performing the setup services for this customer next month (as early as next week). How would the company’s financial statements (and the users of the financial statements) be affected if you record this entry?
Your company has semi-annual training sessions for all new employees. These training sessions provide information to all new employees about the organization and the role of each department within the organization. As an experienced management accountant, also known as a cost accountant, you have been assigned to develop a 30-minute presentation that explains what managerial accounting is and how it is used by others within the company. Prompt: Identify two concepts that you believe should be included in the presentation. You should provide a brief explanation of both concepts.
Job analysis might be conducted for all of the following reasons, except When new jobs are created When downsizing takes place When the organization is founded and jobs are initiated for the first time When jobs are changed significantly Following the last meeting for the HR department at XYZ Company, the HR manager Mirna has recently announced that all employees are expected to add the foilowing footneote to their email signature block: "XYZ Company is looking for amazing employees!". Thus, which of the following statements is true regarding the HR department decision? " It is seeking totrain employees through promotional policies It is seeking to recruit employees through employee enlistment It is seeking to train employees through employee referrals It is seeking to recruit emplovees through employee referrals
can you help me with question to explain "An employee for Repairs to Go, Inc., works different numbers of hours each week depending on the needs of the business. To simplify the accounting, the bookkeeper for Repairs to Go classifies this employee as a salaried person. Is this practice appropriate?"
A worker has taken 15 hours to complete a job. It has enabled him to get bönus under both Halsey and Rowan Schemes. Since the worker is not much educated, he requested a cost accountant for necessary advice. The advisor informed him that Rowan method is better for him since it will give him extra bonus of 6.25 in comparison with the Halsey method. Hourly wage rate is 5. You are requested to ascertain standard time allowed for the job.
Amy Andrews is a CPA who works as a managerial accounting consultant for a variety of firms. To determine her hourly rate, Amy uses a cost-plus pricing system, which she updates each year. The hourly cost of her assistant (including taxes and benefits) is $18, the hourly cost of her office space is $3, the hourly cost of her marketing and other overhead materials is $5, and Amy's own hourly salary (again, including taxes and benefits) is $84. Amy adds a 30% premium to her costs. What is her hourly rate using a cost-plus pricing strategy?
Amy Andrews is a CPA who works as a managerial accounting consultant for a variety of firms. To determine her hourly rate, Amy uses a cost-plus pricing system, which she updates each year. The hourly cost of her assistant (including taxes and benefits) is $18, the hourly cost of her office space is $3, the hourly cost of her marketing and other overhead materials is $5, and Amy's own hourly salary (again, including taxes and benefits) is $84. Amy adds a 30% premium to her costs. What is her hourly rate using a cost-plus pricing strategy? 1:02 Multiple Choice $115 $143 $110 $140 Mc Graw MacBook Pro %23 %24 & 2 3 4 6 7 8. R. Y P D H J K V N mmand command option O O O